Q38.Which of the following is not a current asset ? (1) Debtors (2) Prepaid Expenses (3) Bills Receivable (4) Furniture Answer Furniture Related Questions on Theory Base of Accounting Q39.During the lifetime of an entity accounting produce financial statements in accordance with which basic accounting concept: (1) Matching (2) Conservation (3) None of the above … Read more
Q37.Under ___ method, the balance of the capital account fluctuates from year to year. (1) Current account (2) Fixed capital account (3) Floating capital account (4) Fluctuating capital account Answer Fluctuating capital account Related Questions on Theory Base of Accounting Q38.Which of the following is not a current asset ? (1) Debtors (2) Prepaid Expenses … Read more
Q36.Investment A/c is related to (1) Real A/c (2) Personal A/c (3) None of these (4) Nominal A/c Answer Real A/c Related Questions on Theory Base of Accounting Q37.Under ___ method, the balance of the capital account fluctuates from year to year. (1) Current account (2) Fixed capital account (3) Floating capital account (4) Fluctuating … Read more
Q35.What change does profit makes to capital? (1) Profit gets added to the capital (2) All of these (3) Profit gets reduced from capital (4) Profit has no change to capital Answer Profit gets added to the capital Related Questions on Theory Base of Accounting Q36.Investment A/c is related to (1) Real A/c (2) Personal … Read more
Q34.Cash discount is : (1) Received at the time of making payment (2) Allowed at the time of sale of goods (3) All the above (4) Received at the time of purchase of goods Answer Received at the time of making payment Related Questions on Theory Base of Accounting Q35.What change does profit makes to … Read more